A recent report ongoing study by Infinium Global Research on the Food Truck Market provides an in-depth analysis of segments and sub-segments in the MENA as well as regional Food Truck Market. The study also highlights the impact of drivers, restraints, and macro indicators on the MENA and regional Food Truck Market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the MENA Food Truck Market. The MENA food truck market was valued at over USD 170 million in 2022 and is expected to reach more than USD 230 million in 2028, with a CAGR of nearly 5% during the forecast period.
A food truck is a large motorized vehicle (such as a van) or trailer, equipped to cook, prepare, serve, or sell food. Including ice cream trucks, sell frozen or prepackaged food, others have on-board kitchens and prepare food from scratch, or they heat up food that was prepared in a brick-and-mortar commercial kitchen. Sandwiches, hamburgers, French fries, and other regional fast food fare is common. By the early 2010s, amid the pop-up restaurant phenomenon, food trucks offering gourmet cuisine and a variety of specialties and ethnic menus became particularly popular. Food trucks may also sell cold beverages such as soda pop and other. Along with this, Food trucks are major components of the street food industry that serves an estimated n number of people every day.
This rapid expansion of mobile dining has come with significant growth in the food truck market. Which boosts the growth of the market. The increasing number of fast-food chains, such as grub hub, caviar, and others enhance the availability to consumers, resulting in strong growth in the food truck market. Government regulations on food trucks due to service tax and traffic rules affect the growth of the market which hamper the growth of the market. Food trucks are very platform convenience businesses but at the same time, the changes in regulations of the government hamper the market growth. Consumer rising preferences towards fast foods create a growth opportunity for this food truck market.
According to an Alpen Capital GCC Food Industry report conducted earlier this year, population growth, high disposable income, increasingly urbane lifestyles, and evolving consumer preferences have been propelling the growth of the food truck market in the GCC region. Among other trends, the report highlights the emergence of food trucks as a new distribution channel. On November 20, the Kingdom of Saudi Arabia’s fast food restaurant AlBaik announced on Tuesday, the launch of five mobile restaurants that will provide their services in Qatar during the World Cup.
|Market Size in 2021||Over USD 170 Million|
|Market Size by 2028||More than USD 230 Million|
|Growth Rate from 2022 to 2028||CAGR of Nearly 5%|
|Largest Market||Saudi Arabia|
|No. of Pages||80|
|Market Segmentation||By Type, By Size type, and By Application|
|Regional Scope||Saudi Arabia, UAE, Qatar, Kuwait, Egypt, Sudan, and Rest of MENA|
The report on MENA Food Truck Market covers segments such as type, size type, and application. On the basis of type, the sub-markets include bus, van, and customised trucks. On the basis of size type, the sub-markets include small, and medium. On the basis of application, the sub-markets include ice cream, barbeque food truck, snack food, halal food, fast food, fruits & vegetable seller, and others.
The report provides profiles of the companies in the market such as WORLD STREET KITCHEN, Food Truck Company, Prestige Food Trucks, Restaurant Brands International Inc., Roaming Hunger, Apparel Group, Krispy Kreme Doughnut Corp., BinHendi Enterprises, Americana Foods Inc., Yum! Brands, and M&R SPECIALTY TRAILERS AND TRUCKS.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the Food Truck Market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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